A10 Networks (NYSE:ATEN) Receives Hold (C+) Rating from Weiss Ratings

Key Points

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Weiss Ratings reaffirmed their hold (c+) rating on shares of A10 Networks (NYSE:ATEN - Free Report) in a report published on Saturday, August 16th,Weiss Ratings reports.

Several other equities analysts have also issued reports on ATEN. Mizuho started coverage on A10 Networks in a research note on Monday, July 14th. They issued a "neutral" rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on A10 Networks in a report on Friday, June 27th. They set a "buy" rating and a $22.00 target price for the company. BTIG Research raised A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price target for the company in a report on Wednesday, August 6th. Raymond James Financial initiated coverage on A10 Networks in a report on Wednesday, April 23rd. They issued a "market perform" rating for the company. Finally, Wall Street Zen raised A10 Networks from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $22.00.

A10 Networks Trading Up 2.4%

Shares of NYSE:ATEN traded up $0.4060 on Friday, hitting $17.3960. 568,457 shares of the company's stock were exchanged, compared to its average volume of 802,609. A10 Networks has a 12 month low of $12.72 and a 12 month high of $21.90. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 25.58 and a beta of 1.35. The business's 50 day simple moving average is $18.38 and its two-hundred day simple moving average is $18.01. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.23 and a quick ratio of 4.04.

A10 Networks (NYSE:ATEN - Get Free Report) last released its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The business had revenue of $69.38 million during the quarter, compared to the consensus estimate of $65.99 million. A10 Networks had a return on equity of 25.46% and a net margin of 18.45%.The business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the company earned $0.18 earnings per share. Analysts anticipate that A10 Networks will post 0.69 EPS for the current fiscal year.

A10 Networks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. A10 Networks's dividend payout ratio (DPR) is 35.29%.

Insiders Place Their Bets

In other news, General Counsel Robert Scott Weber sold 2,500 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total transaction of $43,150.00. Following the completion of the transaction, the general counsel directly owned 61,007 shares in the company, valued at approximately $1,052,980.82. This represents a 3.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian Becker sold 6,400 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $18.03, for a total value of $115,392.00. Following the transaction, the chief financial officer owned 77,599 shares of the company's stock, valued at $1,399,109.97. This trade represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On A10 Networks

Several hedge funds and other institutional investors have recently made changes to their positions in ATEN. Wells Fargo & Company MN boosted its stake in shares of A10 Networks by 112.3% in the 4th quarter. Wells Fargo & Company MN now owns 55,048 shares of the communications equipment provider's stock valued at $1,013,000 after buying an additional 29,123 shares during the period. Barclays PLC increased its position in A10 Networks by 350.4% during the fourth quarter. Barclays PLC now owns 685,720 shares of the communications equipment provider's stock worth $12,618,000 after buying an additional 533,482 shares during the period. Marshall Wace LLP increased its holdings in shares of A10 Networks by 364.8% in the fourth quarter. Marshall Wace LLP now owns 683,711 shares of the communications equipment provider's stock valued at $12,580,000 after purchasing an additional 536,600 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of A10 Networks by 1,861.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 41,200 shares of the communications equipment provider's stock valued at $758,000 after purchasing an additional 39,100 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of A10 Networks by 3.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 99,862 shares of the communications equipment provider's stock valued at $1,837,000 after purchasing an additional 3,541 shares during the period. Hedge funds and other institutional investors own 98.61% of the company's stock.

A10 Networks Company Profile

A10 Networks, Inc provides networking solutions in the Americas, Japan, rest of Asia Pacific, Europe, the Middle East, and Africa. The company offers Thunder Application Delivery Controller that provides advanced server load balancing; Thunder Carrier Grade Networking, which provides standards-compliant address and protocol translation services between varying types of internet protocol addresses; Thunder Secure Sockets Layer (SSL) Insight that decrypts SSL-encrypted traffic and forwards it to a third-party security device for deep packet inspection; and Thunder Convergent Firewall, which addresses multiple critical security capabilities in one package.